+Article 278 3.

Article 278 3.

For the purposes of paragraph 1, the multiplier shall be calculated as follows:



multiplier =
left accolade

1 if z ≥ 0

image

if

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where:

Floorm = 5 %;
y = 2 · (1 – Floorm) · ΣaAddOn(a)



z =
left accolade

CMV – NICA for the netting sets referred to in Article 275(1)

CMV – VM – NICA for the netting sets referred to in Article 275(2)

CMVi – NICAi for the netting sets referred to in Article 275(3)

NICAi

=

the net independent collateral amount calculated only for transactions that are included in netting set i. NICAi shall be calculated at trade level or at netting set level depending on the margin agreement.

1. Overview

,

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards